The Institute of Business Administration (IBA) Karachi’s School of Economics & Social Sciences (IBA-SESS), in collaboration with the Center for Business and Economic Research (IBA-CBER), has launched its much-anticipated report, The State of Pakistan’s Economy 2024-25, at a ceremony held at the Main Campus, IBA Karachi. This year’s report focuses on the theme, ‘Tapping the Economic Potential: Strategies for Productivity and Growth’, and offers an in-depth analysis of Pakistan’s key economic sectors along with strategies to unlock the country’s potential for sustainable growth and prosperity.

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Authored by faculty members and students from the Department of Economics, IBA-SESS, and edited by Dr Heman Das Lohano, Professor at IBA-SESS, and Dr Lubna Naz, Professor and Director of IBA-CBER, the report provides fresh perspectives on longstanding economic challenges. It aims to serve as a valuable resource for students, policymakers, and anyone interested in contributing to the economic development of Pakistan.

During the launch event, renowned economists and practitioners—Dr Farooq Pasha, Dr Shereen Narejo, and Dr Mahmood Khalid—shared their insights on the report’s key findings and recommendations. Dr Heman Das Lohano moderated the discussion, highlighting the need for a comprehensive strategy that addresses both short-term challenges and long-term structural issues in order to unlock Pakistan’s full economic potential.

Speaking at the event, Dr Mahmood Khalid stressed the need for more consistent and rationale tax policies. “The current tax system is too complicated, particularly for wholesalers and retailers who can be easily brought into the tax net. Moreover, the cost of compliance is exceptionally high, which discourages formalization,” he said.

Dr Shereen Narejo emphasized the importance of job creation in the post-pandemic economy. “Millions have become jobless, especially after COVID-19, making job creation a crucial policy priority,” she stated. “Estimates show that the home-based economy is valued at approximately $453 billion, and this segment should be leveraged. Similarly, there is enormous potential in waste management—products from just banana waste can generate five different revenue streams.”

The discussion concluded with a Q&A session, where attendees engaged with the panelists on various aspects of the report’s findings and the broader economic landscape of Pakistan. The session concluded with Dean of SESS, Dr Asma Hyder, Professor SESS, Dr Muhammad Nasir, and Visiting Faculty, Dr Syed Jaffar Ahmed, presenting mementos to the esteemed panelists.

The State of Pakistan’s Economy 2024-25 report is set to become an essential read for stakeholders aiming to contribute to the economic revitalization of Pakistan, offering data-driven insights and actionable recommendations that could pave the way for a brighter economic future.

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